Salman Partners Inc. (“Salman”) and Woodstone Capital Inc. (“Woodstone Capital”) are pleased to announce that they have reached an agreement to amalgamate in order to create a diversified, independent Canadian Investment Dealer.
The business combination will join the forces of two veteran IIROC Dealer Members to expand the range of investment services they provide to their growing, sophisticated client bases.
“We are delighted to add Woodstone Capital’s retail and wealth management strength to our integrated investment platform,” said Terry Salman, CEO, “This is an important step in our continued strategic response to the changing structure of our industry; we believe there’s an opportunity for an independent full service dealer to offer alternatives to the larger dealers.”
Woodstone’s President, Mahmood Ahamed, added, “Our advisors have always been able to compete at a very high level, providing excellent advice and service. We believe the combined firm will expand our retail investment dealer business by offering a wider breadth of service and by attracting new advisors to the firm.”
Completion of the transaction is anticipated in the Fall of 2014, subject to regulatory approvals and standard closing conditions.